Market activity is fairly stable amid the new economic conditions. We've seen a decrease in offers and new listings but we are still seeing upwards of 70 offers a week in HRM.
Listing inventory is much lower than this time last year. It is unlikely we will see any significant price drops but we certainly won't see the same gains as earlier in the year. A cooling off period for the market is not bad news for buyers as things were extremely competitive prior to COVID.
- Number of offers written: 30% decrease from 2019.
- Number of new listings: 52% decrease from 2019.
- Number of cancelled listings: 8 fewer in 2020.
- Total active listings: 40% decrease from April 2019.
The big question is what happens when COVID restrictions lift. Some…
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